Sasseur REIT's DPU up 4.7% to 6.53 cents in 2019

Distributable income also rose 4.7% YoY to $77.9m.

Sasseur Real Estate Investment Trust (Sasseur REIT) saw its distribution per unit (DPU) inch up 4.7% to 6.53 cents in 2019 from 6.24 cents in 2018, according to a press release.

Distributable income also rose 4.7% YoY to $77.9m from $74.5m, whilst its entrusted management agreement (EMA) rental income dipped 1.6% YoY to $122.1m from $124m in 2018.

The annualised distribution yield based on the total DPU for the period was 7.4% at the closing unit price of $0.885 on 31 December 2019, and 8.2% at the IPO offering price of $0.800 was well above the yield of 7.8% forecasted at its IPO in March.

As for its Q4 results, DPU dropped 18.5% YoY from 2 cents to 1.63 cents due to lower income tax expense in Q4 2018, resulting from utilisation of available tax losses in that quarter. Its one-off adjustment in Q4 2018 also lead to statutory reserves being set aside during Q2 and Q3 2018.

Distributable income also fell 17.4% YoY to $19.5m over the same period, whilst EMA rental income grew 0.9% YoY in Q4 to $31.5m.

This growth was driven by combined outlet sales of $279.3m (RMB1.4b) for Q4 2019, 3.4% YoY higher than in 2018. Portfolio occupancy rate for the quarter edged up to 96% from 95.4% in Q3 2019, due to a more active leasing strategy and focused tenant management. Total VIP members for the four malls in the REIT portfolio rose 93% to 1.58 million as of 31 December 2019.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia